I was sure Nod was not serious about doing 50 to 100 cars a trade with large stops. She knows "pain" as any live trader does when they traded with real bullets flying before going to a sim. Going to a sim is about refining the tactics etc. Sim trading certainly must have some value if the trader can connect to even a small extent the emotional reality of trading a live account.
The trading 20 cars for small moves is actually done a lot more lately as i said (i think) because the ES has been in some small ranges lately. The main goal is still to catch the "RUN" as always. I was never a fan of range trades but lets face it, the last couple years we were all spoiled with great intraday swings when the financials imploded.
Let me give an example again on a particular type of trade...... not a range trade though, more a swing reversal trade with the KEY reversal or the 2 bar reversal setup.
In a bar chart you see a KEY reversal bar (keep in mind a reversal bar must have a previous move to reverse), it does not need to be a big move, adjust accordingly.
Key reversals work especially well in smaller range days......such as Fridays action. Remember, you do not know if it is a KEY bar until it closes and you are looking at a key bar that IS A LONELY BAR, it is sticking out there all by itself relative to the previous few bars. But you all know that.
Once you see a pointy bar and the 5 minutes is almost up and you see price going back down from its high and gets below the said bars opening you are anticipating a KEY bar to form.
OK, the bar is printed and now your job is to go short if price goes below the KEY bars OPENING price with the objective to go lower than the KEY bars close and continue on down. Your STOP loss is easy, you will get freaking nervous if price comes back up to the KEY bars opening tick and if price hits the KEY bars high.......you then lunch the trade and regroup. What you want is for price to stay below the opening tick of the KEY bar, thats your number one clue if the other traders are taking the bait and getting out of their longs.................because they are now in a losing trade and you are not.
Key bars from Friday: Only from 0930 to 1600 est. I hardly ever trade pre-opening of pit times. = 0950 bar the then high 1086even and closed at 1083.50, next KEY was at 1055 which was then the low of the pit session and proved to be the low of the day at 1077.50, it was not an outstanding KEY bar but one none the less....notice if you went long on that KEY bar you would have seen a 3 handle profit come all the way back and test the KEY bars OPENING TICK at 1078.50 on the 1140 est bar.......but PRICE did not go lower....your long was still valid. Now prior to that low reversal there was a rather punk KEY reversal bar at 1120 bar but there was not much to reverse so that was not given much reading because price ticked on two bars a tick above the KEY bars opening. It stalled at the previous high at 1082.00 as it was, 1 tick above previous high was a clue to be careful and be on the lookout to exit your long...then the 1140 bar test of opening tick on the 1055 KEY bar was your clue to stay long (you knew you were in a range now). The range got smaller after that and 1078.50 was not hit again and you saw 1082.00 as the resist. Price popped past 1082.00 at 1310 on up to 1087.0 and that was a KEY reversal bar again at 1350. price dropped down to 1082.50 at 1410 and showed a KEY reversal AGAIN and proceeded to make the days high before ANOTHER KEY reversal at 1540took price down into the close.
KEY bars are not always gonna work as good as they did on Friday..........but they are something you should have in your tool shed.
Mkts are like women, they sometimes are easy to understand and other times............well you know.
:eek: 
PS: Great qualifying in the Brazilian F! today for tomorrows Brazilian F1. Ruben is on the pole and should be great next to last race of season. Speed channel tomprrow at 1130 est. Be there or be square.
The trading 20 cars for small moves is actually done a lot more lately as i said (i think) because the ES has been in some small ranges lately. The main goal is still to catch the "RUN" as always. I was never a fan of range trades but lets face it, the last couple years we were all spoiled with great intraday swings when the financials imploded.
Let me give an example again on a particular type of trade...... not a range trade though, more a swing reversal trade with the KEY reversal or the 2 bar reversal setup.
In a bar chart you see a KEY reversal bar (keep in mind a reversal bar must have a previous move to reverse), it does not need to be a big move, adjust accordingly.
Key reversals work especially well in smaller range days......such as Fridays action. Remember, you do not know if it is a KEY bar until it closes and you are looking at a key bar that IS A LONELY BAR, it is sticking out there all by itself relative to the previous few bars. But you all know that.
Once you see a pointy bar and the 5 minutes is almost up and you see price going back down from its high and gets below the said bars opening you are anticipating a KEY bar to form. OK, the bar is printed and now your job is to go short if price goes below the KEY bars OPENING price with the objective to go lower than the KEY bars close and continue on down. Your STOP loss is easy, you will get freaking nervous if price comes back up to the KEY bars opening tick and if price hits the KEY bars high.......you then lunch the trade and regroup. What you want is for price to stay below the opening tick of the KEY bar, thats your number one clue if the other traders are taking the bait and getting out of their longs.................because they are now in a losing trade and you are not.
Key bars from Friday: Only from 0930 to 1600 est. I hardly ever trade pre-opening of pit times. = 0950 bar the then high 1086even and closed at 1083.50, next KEY was at 1055 which was then the low of the pit session and proved to be the low of the day at 1077.50, it was not an outstanding KEY bar but one none the less....notice if you went long on that KEY bar you would have seen a 3 handle profit come all the way back and test the KEY bars OPENING TICK at 1078.50 on the 1140 est bar.......but PRICE did not go lower....your long was still valid. Now prior to that low reversal there was a rather punk KEY reversal bar at 1120 bar but there was not much to reverse so that was not given much reading because price ticked on two bars a tick above the KEY bars opening. It stalled at the previous high at 1082.00 as it was, 1 tick above previous high was a clue to be careful and be on the lookout to exit your long...then the 1140 bar test of opening tick on the 1055 KEY bar was your clue to stay long (you knew you were in a range now). The range got smaller after that and 1078.50 was not hit again and you saw 1082.00 as the resist. Price popped past 1082.00 at 1310 on up to 1087.0 and that was a KEY reversal bar again at 1350. price dropped down to 1082.50 at 1410 and showed a KEY reversal AGAIN and proceeded to make the days high before ANOTHER KEY reversal at 1540took price down into the close.
KEY bars are not always gonna work as good as they did on Friday..........but they are something you should have in your tool shed.
Mkts are like women, they sometimes are easy to understand and other times............well you know.
:eek: PS: Great qualifying in the Brazilian F! today for tomorrows Brazilian F1. Ruben is on the pole and should be great next to last race of season. Speed channel tomprrow at 1130 est. Be there or be square.
